Nisa Investment Advisors LLC Has $2.24 Million Stock Holdings in Kellanova (NYSE:K)

Nisa Investment Advisors LLC decreased its stake in Kellanova (NYSE:K - Free Report) by 28.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,764 shares of the company's stock after selling 11,200 shares during the quarter. Nisa Investment Advisors LLC's holdings in Kellanova were worth $2,241,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC raised its position in Kellanova by 529.3% during the third quarter. CVA Family Office LLC now owns 365 shares of the company's stock valued at $29,000 after acquiring an additional 307 shares in the last quarter. MCF Advisors LLC boosted its holdings in Kellanova by 48.8% in the third quarter. MCF Advisors LLC now owns 418 shares of the company's stock worth $34,000 after purchasing an additional 137 shares in the last quarter. Blue Trust Inc. raised its holdings in Kellanova by 57.2% during the second quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $27,000 after buying an additional 170 shares in the last quarter. Family Firm Inc. bought a new position in Kellanova during the second quarter valued at about $29,000. Finally, BNP Paribas acquired a new stake in Kellanova in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 83.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on K. Evercore ISI raised Kellanova to a "hold" rating in a report on Friday, August 2nd. Piper Sandler lifted their target price on Kellanova from $63.00 to $83.50 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Wells Fargo & Company raised their price target on Kellanova from $76.00 to $83.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 15th. Stifel Nicolaus boosted their price objective on Kellanova from $64.00 to $76.00 and gave the company a "hold" rating in a research report on Monday, August 12th. Finally, Argus downgraded shares of Kellanova from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Sixteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Kellanova currently has a consensus rating of "Hold" and an average price target of $74.96.

Kellanova Stock Performance

Kellanova stock traded down $0.04 during mid-day trading on Friday, hitting $80.61. 3,773,971 shares of the company's stock traded hands, compared to its average volume of 1,677,725. The firm has a 50 day simple moving average of $80.63 and a two-hundred day simple moving average of $68.36. Kellanova has a fifty-two week low of $50.81 and a fifty-two week high of $81.26. The stock has a market cap of $27.78 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 2.58 and a beta of 0.39. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.48.

Kellanova (NYSE:K - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Kellanova had a return on equity of 37.05% and a net margin of 7.85%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm posted $1.03 EPS. The company's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts expect that Kellanova will post 3.71 EPS for the current fiscal year.

Kellanova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.83%. The ex-dividend date is Monday, December 2nd. Kellanova's payout ratio is 78.35%.

Insiders Place Their Bets

In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Kellogg W. K. Foundation Trust sold 77,800 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $80.05, for a total value of $6,227,890.00. Following the transaction, the insider now owns 50,753,038 shares in the company, valued at approximately $4,062,780,691.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kellogg W. K. Foundation Trust sold 114,583 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $80.65, for a total value of $9,241,118.95. Following the completion of the transaction, the insider now owns 50,368,272 shares in the company, valued at $4,062,201,136.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,227,864 shares of company stock worth $98,438,243 in the last 90 days. Company insiders own 1.80% of the company's stock.

Kellanova Profile

Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products include crackers, crisps, savory snacks, toaster pastries, cereal bars, granola bars and bites, ready-to-eat cereals, frozen waffles, veggie foods, and noodles.